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The Maine Debt Collector Bond is a type of surety bond that is required to obtain a debt collector license in the state. The bond is just one of the requirements and of the Maine Department of Consumer Protection. These types of companies are required to obtain a Maine debt collection license:

  1. Third-party collectors of consumer debtMaine Debt Collector Bond
  2. Companies that buy delinquent debt and collect on it
  3. Check-guarantee companies that collect on bounced checks
  4. Collectors of student loan debt
  5. Collectors of child support debt (See 32 M.R.S.A §11002)
  6. Attorneys who collect consumer debt.

Maine Law tracks federal law; therefore, if your company qualifies as a debt collector under federal law it also qualifies as such under Maine law.

One must have a Maine Debt Collectors License if:

  1. If your company maintains an office in Maine.
  2. If you collect on debts incurred between Maine consumers and a creditor with a business presence in Maine.
  3. If you solicit your services to Maine creditors.
  4. If you collect debt in other states that were originally incurred in Maine.

Surety Bond

The amount of the surety bond depends on the type of debt collection activities your company plans to undertake. Direct collection companies require a bond of $20,000, whereas letter-writing companies (companies that do not accept funds, but direct that the funds be sent to the creditor) require a bond of $5,000.

When debt collectors renew their license with the Bureau of Consumer Credit Protection, the amount of the bond depends on the company’s gross monthly Maine collections for the previous year. The Bureau of Consumer Credit Protection separates the bond amount into brackets based on average monthly collections on behalf of Maine consumers:

Monthly Collections Bond Amount
> $40,000 $50,000
$30,000 – $40,000 $45,000
$20,000 – $30,000 $35,000
$10,000 – $20,000 $25,000
< $10,000 $15,000


Letter-writing companies must procure a $5,000 bond upon license renewal. This bond guarantees that the principle will abide by all Maine state laws and regulations. Since this bond is continuous, it is in full force and effect until cancelled. If it is cancelled, the obligee must be notified at least 30 days before the bond cancellation date. The bond premium (the cost to you) is only a small fraction of the bond amount. The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct.

Maine Debt Collector Licensing Requirements

Surety1 is not directly involved with the licensing process, but we’ve compiled this information which may helpful for you. Your application packet must include the following completed items:

  • Application form
  • Fingerprint card for the owner, partners, or top three officers (depending on ownership organization)
  • Verification of the company’s trade name
  • An “Authorization for Credit Bureau Report” form, signed by the owner or partners
  • Maine Debt Collectors Bond
  • Financial report – reviewed or audited by a C.P.A.
  • Samples (or computer screen printouts) of the following:
    • Client contract forms
    • Listing sheets
    • Debtor’s work card
    • Debtor’s receipt for cash payment
    • Remittance sheet
    • Creditor’s attorney authorization form
    • All letters the company plans to use in correspondence with Maine consumers.  (Click here for an explanation of these items)
    • Name of financial institution holding trust account**
    • Statement explaining exact nature of company’s debt collection activity
    • License fee

All licensing fees are required by the obligee, not the surety company. Licenses are valid for a two year term and must be renewed on July 31st. This is required by the obligee, not the surety company. For more licensing information, visit the Maine Department of Consumer Protection. 
**Maine law requires licensed debt collectors to maintain a trust account used strictly for, and containing all monies collected from, payments received by the collectors in payment of debts owed to Maine creditors.

How to Obtain a Maine Debt Collector Bond

At we make it easy to procure this surety bond. Our simple, three step process is:

  1. Complete the easy to navigate and secure online application1
  2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
  3. Sign some paperwork and pay the bond premium

Once these steps have been completed, Surety1 will ship the original executed Maine Debt Collector Bond via traceable mail to be included with the license application packet to be submitted to the Department of Consumer Affairs. (1)The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license. is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, is the premier online provider of surety bonds nationwide since 2003.

For a list of states that require collection agency bonds, visit our collection agency guide page

Maine Debt Collector Bond

How to Get Your Maine Debt Collector Bond

  1. Complete an online application. It’s free and no-obligation.
  2. One of our surety experts will contact you with a firm quote and an agreement to sign.
  3. Provide payment and your signed agreement, and then you will receive your Surety Bond!

If you have any questions, please call us at 877-654-2327.

How to Get Bonded

1. Apply Online
Using our Free & Secure Application
2. Get Your Free Quote
Applications are No-Obligation
3. Get Your Bond
Most Bonds are Approved in 1-2 Business Days

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Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.

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